When we look at the use of eSignatures in the US, digital transactions are pretty much signed, sealed and delivered. Issues with security, availability and legality have largely been accepted, while great progress has been made in standardising eSignatures across numerous industries. Coming from a European standpoint however, the issue is not quite so clear-cut.
The cold, hard truth is that the move towards managing documents digitally via eSignature is up and coming in Europe. Why is that I hear you ask? Well, the “It's All In The Proof” session at Momentum 2015, led by our own Chief Legal Counsel. Reggie Davis, came up with the answer. It's cultural resistance.
Europeans and Americans take very different approaches to litigation. While it is far more common to sue in the US, citizens in Europe are much less likely file lawsuits.
Between the US and Europe, our cultural attitudes separate our rate of eSignature adoption. During the breakout session, panelists touched upon key trends facing our economy and society. Take the Internet for example: many of us thought that the internet age would drive accessibility and connectivity. However, in recent years, especially in Europe, we have seen the rise of concerns around privacy and data residency.
So What Can We Do?
Trust has been a key theme throughout Momentum 2015 and it is wholly relevant in the global legal space.. Every time we eSign, we should rest assured all is safe, secured and legally-compliant. Here’s proof that Digital Transaction Management’s eSignature solution facilitates trust.
Our legal team has not found a single country where it is illegal to use eSignatures.
As opposed to paper-based processes, we can track exact moments in which documents have been created, delivered and signed, as well as identifying any attempts to tamper with the document.
Turning The Tide
Equipped with these proof points, it's inevitable that e-signatures will prevail in Europe. We're proving this already through our work with global organisations such as SAP and this is only going to grow from strength to strength.
Fast forward three years and we will see the legality discussion around eSignatures fall to no more than a murmur. The clear advantages will be apparent and it will no longer warrant a hint of concern, and will simply be the norm. While Europe may be a more complicated market as things stand, before we know it, eSignatures will be an accepted part of daily life across the continent.